Kolkata, 4th November, 2011: Magma Fincorp Limited, India's leading retail finance company today announced the joining of
Mr Kailash Baheti as Chief - Corporate Affairs & Strategy.

Mr Baheti is a CA, CS and AICWA and has more than 25 years of experience. After a brief stint at Fort Gloster Jute Mills, he joined Century Extrusions Ltd. Here, he handled various responsibilities and since 2005, was the CEO of the organisation. At Magma, Mr Baheti will look after the Secretarial, Accounts, Taxation and MIS Functions and will support MD in Mergers/Acquisitions and related Strategic Initiatives.

He is married with two daughters. He loves playing golf and table tennis.

About Magma Fincorp Limited

Magma Fincorp Limited ("Magma") is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.

Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipments, Tractors and SME Loans. Magma has a dedicated base of around 2.6 lac customers and has assets of INR 11378 crores under management. The company has 190 branches in 20 states and 1 union territory and employs over 5000 people.

Magma has signed a joint venture with HDI Gerling, part of Talanx Group, Germany's third largest insurance group to start a general insurance company in India, which since has received R1 license from the insurance regulator.